In the journey to outperform the market, investors delve into the art of stock selection. Choosing the right stocks can be a powerful driver for wealth accumulation.
In the latest session, Array Technologies Inc (NASDAQ: ARRY) closed at $11.69 up 3.73% from its previous closing price of $11.27. In other words, the price has increased by $3.73 from its previous closing price. On the day, 5.81 million shares were traded. ARRY stock price reached its highest trading level at $11.83 during the session, while it also had its lowest trading level at $11.08.
Ratios:
For a deeper understanding of Array Technologies Inc’s stock, let’s take a closer look at its various ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 7.12 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 8.25. For the most recent quarter (mrq), Quick Ratio is recorded 2.00 and its Current Ratio is at 2.48. In the meantime, Its Debt-to-Equity ratio is 1.16 whereas as Long-Term Debt/Eq ratio is at 1.11.
Upgrades & Downgrades
In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, Barclays on April 02, 2024, Upgraded its rating to Overweight and sets its target price to $18 from $15 previously.
On March 22, 2024, BMO Capital Markets started tracking the stock assigning a Market Perform rating and target price of $16.
Insider Transactions:
Additionally, insider trades can be beneficial to investors who want to learn what the management thinks about stock prices in the future. A recent insider transaction in this stock occurred on Mar 20 ’24 when Hostetler Kevin G. sold 8,176 shares for $12.30 per share. The transaction valued at 100,565 led to the insider holds 217,352 shares of the business.
Hottinger Tyson sold 7,500 shares of ARRY for $187,825 on Sep 01 ’23. The Chief Legal Officer now owns 69,618 shares after completing the transaction at $25.04 per share. On Aug 14 ’23, another insider, Patel Nipul M., who serves as the Chief Financial Officer of the company, sold 54,593 shares for $23.12 each. As a result, the insider received 1,262,190 and left with 82,827 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, ARRY now has a Market Capitalization of 1773688704 and an Enterprise Value of 2578377472. As of this moment, Array’s Price-to-Earnings (P/E) ratio for their current fiscal year is 21.73, and their Forward P/E ratio for the next fiscal year is 8.33. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 1.47. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.13 while its Price-to-Book (P/B) ratio in mrq is 6.82. Its current Enterprise Value per Revenue stands at 1.635 whereas that against EBITDA is 10.019.
Stock Price History:
The Beta on a monthly basis for ARRY is 1.71, which has changed by -0.44412744 over the last 52 weeks, in comparison to a change of 0.23061275 over the same period for the S&P500. Over the past 52 weeks, ARRY has reached a high of $26.64, while it has fallen to a 52-week low of $10.82. The 50-Day Moving Average of the stock is -13.45%, while the 200-Day Moving Average is calculated to be -32.27%.
Shares Statistics:
For the past three months, ARRY has traded an average of 5.76M shares per day and 5756950 over the past ten days. A total of 151.24M shares are outstanding, with a floating share count of 148.62M. Insiders hold about 2.04% of the company’s shares, while institutions hold 116.11% stake in the company. Shares short for ARRY as of 1711584000 were 25829194 with a Short Ratio of 4.48, compared to 1709164800 on 25939469. Therefore, it implies a Short% of Shares Outstanding of 25829194 and a Short% of Float of 19.25.
Earnings Estimates
The stock of Array Technologies Inc (ARRY) is currently being evaluated by 22 analysts who are actively contributing to its market rating.On average, analysts expect EPS of $-0.03 for the current quarter, with a high estimate of $0.03 and a low estimate of $-0.08, while EPS last year was $0.25. The consensus estimate for the next quarter is $0.16, with high estimates of $0.27 and low estimates of $0.08.
Analysts are recommending an EPS of between $1.17 and $1 for the fiscal current year, implying an average EPS of $1.08. EPS for the following year is $1.43, with 22 analysts recommending between $2.2 and $1.06.
Revenue Estimates
A total of 22 analysts believe the company’s revenue will be $151.92M this quarter.It ranges from a high estimate of $396M to a low estimate of $135M. As of the current estimate, Array Technologies Inc’s year-ago sales were $376.77M, an estimated decrease of -59.70% from the year-ago figure. For the next quarter, 22 analysts are estimating revenue of $275.73M, a decrease of -45.70% over than the figure of $-59.70% in the same quarter last year. There is a high estimate of $466M for the next quarter, whereas the lowest estimate is $216.5M.
A total of 27 analysts have provided revenue estimates for ARRY’s current fiscal year. The highest revenue estimate was $1.87B, while the lowest revenue estimate was $1.29B, resulting in an average revenue estimate of $1.36B. In the same quarter a year ago, actual revenue was $1.58B, down -14.00% from the average estimate. Based on 26 analysts’ estimates, the company’s revenue will be $1.7B in the next fiscal year. The high estimate is $2.27B and the low estimate is $1.4B. The average revenue growth estimate for next year is up 25.40% from the average revenue estimate for this year.
